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The real bosses in the capitalist system of market economy are the consumers. They by their buying and by their abstention from buying decide who should own the capital and run the plants. They determine what should be produced and in what quantity and quality.

Ludwig von Mises

Related Topics

Attitude Boss Capital Consumer Economic Market Real Running System

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The philosophy underlying the system of progressive taxation is that the income and wealth of the well-to-do classes can be freely tapped.
LUDWIG VON MISES

Class Freely Philosophy Progressive Tap Taxation Wealth
The only source from which an entrepreneurs profits stem is his ability to anticipate better than other people the future demand of the consumers.
LUDWIG VON MISES

Ability Anticipate Demand Entrepreneur Future Other People Profit Source Stem
This is what capitalism, the much abused profit system, has brought about and brings about daily anew. Yet, most present-day governments and political parties are eager to destroy this system.
LUDWIG VON MISES

Abuse Capitalism Destroy Eager Government Most Profit System Yet
The criterion of truth is that it works even if nobody is prepared to acknowledge it.
LUDWIG VON MISES

Acknowledge Criteria Criterion Prepare Truth
Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.
LUDWIG VON MISES

Alternative Being Capitalism Human Men Politics Socialism System
A free press can only exist where there is private control over the means of production
LUDWIG VON MISES

Control Free Mean Over Press Private Production
[E]conomic history is a long record of government policies that failed because they were designed with a bold disregard for the laws of economics
LUDWIG VON MISES

Bold Design Disregard Economic Fail History Law Long Political Record
Depressions and mass unemployment are not caused by the free market but by government interference in the economy.
LUDWIG VON MISES

Depression Government Interference Market Mass Unemployment
There is but one means available to improve the material conditions of mankind: to accelerate the growth of capital accumulated as against the growth in population.
LUDWIG VON MISES

Accelerate Accumulate Against Available Capital Condition Government Growth Improve Mankind Material Mean Party
Economic progress is the work of the savers, who accumulate capital, and of the entrepreneurs, who turn capital to new uses.
LUDWIG VON MISES

Accumulate Capital Economic Entrepreneur Progress Saver Turn
True, governments can reduce the rate of interest in the short run. They can issue additional paper money.
LUDWIG VON MISES

Additional Government Interest Issue Money Paper Rate Reduce Run Running Short
They can open the way to credit expansion by the banks. They can thus create an artificial boom and the appearance of prosperity. But such a boom is bound to collapse soon or late and to bring about a depression.
LUDWIG VON MISES

Appearance Artificial Boom Collapse Create Depression Expansion Open Soon Way
Every government intervention [in the marketplace] creates unintended consequences, which lead to calls for further government interventions.
LUDWIG VON MISES

Call Consequences Government Intervention Marketplace Unintended
What mankind needs today is liberation from the rule of nonsensical slogans and a return to sound reasoning.
LUDWIG VON MISES

Liberation Mankind Ned Ninsensical Reason Return Rule Slogan Sound Today
Tyranny is the political corollary of socialism, as representative government is the political corollary of the market economy.
LUDWIG VON MISES

Corollary Economic Government Market Political Representative Socialism
Depression is the aftermath of credit expansion.
LUDWIG VON MISES

Aftermath Credit Depression Expansion

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